posted by Kevin Cain
While mobile wallets generally haven’t seen the huge uptake the tech world expected, a few mobile pay apps are bucking the trend. Walmart Pay is a great example. Built into the Walmart app, Walmart Pay allows shoppers to use their smartphones to pay for their purchases while at Walmart stores. It works with any iOS or Android smartphone, at any Walmart checkout lane, using the customer’s preferred payment method. Walmart promises it will make shopping faster, easier, and more convenient, while at the same time keeping its customers’ financial information safe and secure.
Launched in late 2015, the app has already enjoyed enormous success. In fact, first-time use of Walmart Pay, which is integrated into the store’s app, increased by 31.7 percent between March and June 2017. Today, nearly one in five (19.1 percent) Walmart customers have tried the company’s mobile wallet. The reason for its success? Around half of all users say it’s easier, quicker, and more convenient. Not only that, 92.5 percent of people who have used the app say that they either use it every chance that they get or at least whenever the remember that they can.
Let’s take a closer look at Walmart Pay and why it has been so successful.
How does Walmart Pay work?
Customers sign into their Walmart app and update their account to include their preferred payment method, which might include a credit or debit card, a prepaid account, or a Walmart gift card. At checkout, customers open the app, select the Walmart Pay option, and enter a security pin or use Touch ID. They then hold their phone over a QR code presented at checkout to scan it. A sound signals when the transaction is complete and customers also immediately receive an eReceipt on their device and are presented with a message on the debit reader.
What are its key features?
Walmart has certainly worked hard on including some great, intuitive features that make the whole payment process as easy and convenient as possible. For example, there are multiple options to split payments up across different payment types. You can split payment between a Walmart gift card and another card registered to your account. You can also split by paying part of your bill with Walmart Pay and part in cash at the register.
All that customers need to do is open the app, select the payment banner and tick whichever method they want to use. Gift cards can be turned on and off as the customer’s command and there’s a handy default method for your preferred way of paying.
Walmart Pay also makes it easy for shoppers to claim their Savings Catcher rewards by allowing them to automatically redeem rewards the next time they use Walmart Pay in-store. Customers can submit eReceipts to Savings Catcher after using Walmart Pay by simply clicking the “Submit eReceipt Now” button at any time within seven days of purchase.
There’s no more fumbling around with receipts either. Walmart eReceipts typically show up within seconds and are saved indefinitely in the customer’s account. If you’re buying a gift, you can send a copy of the receipt to the gift recipient by selecting the Store eReceipt and the share icon in the top right corner of the page. And, of course, if you require a printed receipt, you can have one too.
What’s next for Walmart Pay?
The Walmart Pay mobile payment app has now been rolled out to all of the store’s 4,600 U.S. locations. With it, the company is aiming to improve the customer experience by, for example, reducing hassle at checkout.
At the moment, you can’t use Walmart Pay to get cash back or to pay for fuel and there’s no hint of that changing. However, the company is using the app to further enhance its knowledge of customer shopping habits. In the future, this should lead to further benefits by, for example, enabling customers to do things like create shopping lists based on their previous purchases. Down the line, there will also likely be scan-as-you-go capabilities, where shoppers can ring up items on their smartphone as they shop.
Whatever feature is rolled out next, it’s clear that Walmart customers already love Walmart Pay and that many more are likely to embrace it going forward. Anyone looking for a lesson on how to get a mobile wallet app right would be wise to pay attention to what these guys are doing.
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